Crdit Mutuel Alliance Fdrale, an entity that brings together 14 of the 18 regional federations of the Crdit Mutuel group, published record results on Thursday in the first half, driven in particular by the good health of its retail banks.
From January to the end of June, the bank whose head office is in Strasbourg generated a net profit group share of 2.0 billion euros, a slight increase of 5.6% over one year. The accounts bear witness to a very good overall performance that combines solidity and dynamism, welcomed the president Nicolas Thry during a press conference by telephone.
They are in line with the historic year 2021 for Crdit Mutuel Alliance Fdrale, with record profit of 3.5 billion euros. The alliance then included one federation less, with Crdit Mutuel Nord Europe having joined in January.
Regarding commercial activity, net banking income (NBI), equivalent to turnover, reached 8.56 billion euros over the first six months of the year, up 1.8% over one year. constant. The banking networks (including the local affiliated funds and the CIC), which provide nearly half of this sum, saw their income increase by 7.4%, thanks in particular to the interest margin and commissions. The consumer credit activity is also up, by 5.8%.
Global warming can be seen directly in the accounts
The specialized trades, whose NBI is down slightly by 1.8%, cover a contrasting reality: strong growth in private equity (+18.5%) and a tumble in market activities (-34.2%). The insurance business also suffered (-19.8%), impacted among other things by the increase in claims, including the hailstorms in France.
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Global warming can be seen directly in the accounts, underlined Nicolas Thry, with, for example, expenses on natural events rising from 65 million euros in the first half of 2021 to 211 million euros in the first half of 2022.
The cost of risk, that is to say the sums provisioned to deal with any unpaid debts on the loans granted, has been multiplied by two and a half to settle at 470 million euros in line with prudent economic scenarios, justifies the banking group .
These results do not include those of the Crdit Mutuel Arka group, which brings together the Bretagne and Sud-Ouest federations and various subsidiaries, still in conflict with its parent company.